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PHL banks' foreign currency loans total $5.19B


Loans given by banks' foreign currency deposit units (FCDUs) totaled $5.19 billion in January-September, up 8 percent from $4.8 billion in the same period in 2009, the Bangko Sentral ng Pilipinas (BSP) said Thursday. FCDUs are bank units of a domestic bank, or branch of a foreign lender, authorized by the Bangko Sentral to accept foreign currencies deposits and issue non-peso denominated loans. Loans with medium- and long-term maturities — payable after over a year — accounted for 61.5 percent of the total loan portfolio, the BSP said. The remaining 38.5 percent had short-term tenors payable in one year. Resident borrowers still dominated the loan pie, accounting for 68.4 percent of total disbursements. The bulk of the resident borrowers were private sector companies, the central bank said. — JE/VS, GMANews.TV

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